1 It costs a company $14 of variable costs and $6 of fixed costs to produce product Z200. Product Z200 sells for $30. A buyer offers to purchase 3,000 units at $18 each. The seller will incur special shipping costs of $5 per unit. If the special offer is accepted and produced with unused capacity, net income will OA) increase $3,000 B) increase $12,000 C) decrease $12,000 D) decrease $3,000 OE) none of the above
Q: Equivalent Units of Production and Related Costs The charges to Work in Process-Assembly Department…
A: FIFO METHOD :— Under this method, equivalent units are calculated by adding equivalent units in…
Q: Jongwe has total income of £115,315 for 2021/22. He made occupational pension contribution of £4,000…
A: To calculate Jongwe's personal allowance for the tax year 2021/22, we need to take into account his…
Q: The Food division of Garcia Company reports the following for the current year. Sales Cost of goods…
A: The gross profit is calculated as the difference between sales and cost of goods sold. The net…
Q: Calculate Mr Bryan's gross income from employment for the Year of Assessment 2021.
A: The term "gross income" describes an individual's total earnings or receipts, excluding any…
Q: On the first day of the fiscal year, a company issues a $910,000, 8%, 5-year bond that pays…
A: Bonds are debt instruments issued by government or a company to borrow funds from individual or…
Q: The following information is available for a custom manufacturer. Inventories Rav materials,…
A: A general ledger is an essential part of the accounting system used in cost accounting to record and…
Q: The master budget at Western Company last period called for sales of 226,500 units at $10.50 each.…
A: A financial management technique called profit variance analysis is used to examine discrepancies…
Q: Each of the following themes is covered by the Enterprise Risk Management Framework, except for: O…
A: The Enterprise Risk Management (ERM) Framework is a comprehensive approach that organizations use to…
Q: Solaris Corporation prepared the following estimates for the four quarters of the current year…
A: Net income is the amount earned by an entity after deducting all expenses from the income. It is the…
Q: Stick Corporation is a wholly owned subsidiary of Point Corporation. Point acquired ownership of…
A: The equity method is appropriate when an entity acquires more than 20% interest in the equities of…
Q: For each of these assets, determine what, if anything, will be recorded on Cullumber's 2024 income…
A: The revenues, expenses, and profitability of a company are shown on an income statement over time.…
Q: Lodge Outfitters issues 1,500 shares of its $0.01 par value common stock to provide funds for…
A: Accounting Equation -The Accounting Equation is calculated using the following equation:Assets =…
Q: Vaughn Company has the following data for the weekly payroll ending January 31. Employee M T L.…
A: Wages: Wages are the earnings of the employees for their work to the company they serve. These are…
Q: Required information Use the following information for the Exercises below. (Algo) [The following…
A: The note payable are reported as liabilities in the balance sheet. The accrued interest is the…
Q: For the tax year 2021-22, what is the deadline to file a self-assessment tax return if submitted…
A: Filing a self-assessment tax return the term "deadline" is the final date by which the tax return…
Q: The following selected transactions relate to investment activities of Ornamental Insulation…
A: Investment means an asset purchased in expectation of earning a return on such investment in future…
Q: Preparing a consolidated income statement-Equity method with noncontrolling interest and AAP A…
A: Consolidated financial statements are a group of enterprises' financial statements presented as if…
Q: Becky Shelton, a teacher at Kemp Middle School, is in charge of ordering the T-shirts to be sold for…
A: Opportunity cost is the cost of the next best alternative that was forgone when a choice was made.…
Q: As per the latest annual report, the following information is made available from the financial…
A: Financial ratios are a set of metrics that measure a company's financial health. They are used by…
Q: During 2021, Dud Co. purchases only one asset: equipment (7-year property) for $1,650,000. Dud takes…
A: Section 179 is a provision in the U.S. tax code that allows businesses to deduct the cost of certain…
Q: In its first month of operations, Blossom Company made three purchases of merchandise in the…
A: Weighted Average Unit CostWeighted Average Unit Cost is a financial and accounting phrase used to…
Q: GAAP requires that O all companies that issue an annual report should issue interim financial…
A: answer are as follow :- GAAP stands for "Generally Accepted Accounting Principles." It refers to a…
Q: P 9-1 Schedule for allocating income (unrealized profits and goodwill) The affiliation structure for…
A: Allocating income refers to the process of distributing or assigning the total income generated by…
Q: C. Eastwood, A. North, and M. West are manufacturers' representatives in the architecture business.…
A: It is the business entity that is found by two or more persons who invest and distribute the future…
Q: Which of the following will be considered as tax evasion? Reducing tax by paying gift aid…
A: Every person who is liable to pay taxes calculates tax payable by self assessment, which involves…
Q: Presented below is information related to Pharoah Co., owned by D. Davis, for the month of January…
A: The recorded transactions or financial events that are recorded in an organization's accounting…
Q: Megan operates a housecleaning business as a sole proprietorship. She oversees a team of 10 cleaning…
A: A sole proprietorship is an unincorporated company with just one owner, who is responsible for…
Q: Step purchased a $150,000 life insurance policy and named her three adult children as beneficiaries.…
A: Based on the policy's wording "in equal shares to my children who survive me" and assuming Stef's…
Q: Their employers provide a short-term disability benefit for 6 months which is 50% of their currently…
A: A disability benefit is a type of insurance that provides financial assistance to people who are…
Q: Jassim Compagny is producing only one product. Two types of direct materials are used to produce…
A: Variable costs are those costs which changes along with change in activity level. Fixed costs do not…
Q: Prepare journal entries to record these liquidation transactions.
A: The liquidation transactions are the transactions which are incurred by the partnership when the…
Q: Green Thumb Gardening is a small gardening service that uses activity-based costing to estimate…
A: Activity based costing is an apportionment of costs that first considers the activity drivers that…
Q: All employee earnings are subject to FICA deductions totaling 7.65 percent. Complete the payroll…
A: Payroll costs are employee costs in the organisation. It means cost of salaries to be paid to…
Q: Kara has a health insurance policy with a $2,000 deductible, $4,000 out of pocket limit, and 75/25…
A: Kara's deductible is $2,000.00. This means she is responsible for paying the first $2,000 of her…
Q: 1) Some of the information found on a detailed inventory card for 3T company for December is as…
A: FIFO stands for first in first out. It is a method of inventory valuation. In this method the…
Q: On January of the current year, Banek Inc issued $350,000 of 8% nine year bonds for $309,086, which…
A: Bonds payable is one of the liability being incurred in business. It can be short term bonds or long…
Q: On December 31, 2023, Berclair Incorporated had 560 million shares of common stock and 5 million…
A: 1. Basic EPS (Net income - preferred dividends) ÷ weighted average of common shares outstanding…
Q: 4. A Corp. began operations in January 2021. A sells one product for $400 each that carries a…
A: Warranty expenses refer to the costs incurred by a company to fulfill its warranty obligations for…
Q: The Atlanta Company processes unprocessed goat milk up to the split-off point where two products,…
A: Joint cost :— It is the total cost incurred in the manufacturing of two or more joint products…
Q: A partial bond amortization schedule for $1.90-million, 5-year bonds is presented below: (a) Fill in…
A: Bonds payable is one of useful liability in the business. Regular interest payments needs to be made…
Q: Required: Juniper Enterprises sells handmade clocks. Its variable cost per clock is $6.80, and each…
A: Cost volume profit analysis is the technique used by management for decision making. The methods…
Q: Larner Corporation is a diversified manufacturer of industrial goods. The company's activity-based…
A: The overhead is applied to the production on the basis of different activity rates. The unit cost is…
Q: Mauro Products distributes a single product, a woven basket whose selling price is $24 per unit and…
A: Break-even point is the level of sales at which total costs equal total revenue, resulting in zero…
Q: On January 1, 2022, Ivanhoe Inc., a construction company, leased an excavator from Oriole Inc. The…
A: Lease liability and lease asset are accounting concepts related to leasing arrangements. When a…
Q: An audit firm is engaged to audit a futures commission merchant. Which independence rules apply to…
A: As per International standard on Auditing 200, independence of an auditor leads to an auditor being…
Q: Sales Price Variance, Sales Volume Variance, Overall Sales Variance Holland Company is a garden…
A: Variance analysis shows the differences between the actual and standard results and also shows the…
Q: On February 1, 2021, Nalawi ltd, issued a 5% , 8-year bond with a face value of 500,000. The…
A: A bond amortization is referred to as the process of spreading out the cost of the bond over the…
Q: Required: Compute for the following: 1. Number of units of materials needed for production in…
A: Budgets are the forecasts or estimates that are made for future period of time. Direct material…
Q: Required information [The following information applies to the questions displayed below.] Data for…
A: The contribution margin is calculated as the difference between sales revenue and variable costs.…
Q: Julie has been provided a diesel car. The list price of the car when new was £19,000. CO2 emission…
A: To calculate the fuel benefit for a diesel car provided by the employer for private use, we need to…
Dog
Step by step
Solved in 3 steps
- Delta Co. sells a product for $150 per unit. The variable cost per unit is $90 and fixed costs are $15,250. Delta Co.s tax rate is 36% and the company wants to earn $44,000 after taxes. What would be Deltas desired pre-tax income? What would be break-even point in units to reach the income goal of $44,000 after taxes? What would be break-even point in sales dollars to reach the income goal of $44000 after taxes? Create a contribution margin income statement to show that the break-even point calculated in B, generates the desired after-tax income.Deuce Sporting Goods manufactures a high-end model tennis racket. The company’s forecasted income statement for the year, before any special orders, is as follows: Fixed costs included in the forecasted income statement are $400,000 in manufacturing cost of goods sold and $200,000 in selling expenses. A new client placed a special order with Deuce, offering to buy 1,000 tennis rackets for $100.00 each. The company will incur no additional selling expenses if it accepts the special order. Assuming that Deuce has sufficient capacity to manufacture 1,000 more tennis rackets, by what amount would differential income increase (decrease) as a result of accepting the special order? (Hint: First compute the variable cost per unit relevant to this decision.)Choose the correct letter of answer Bautista Company produces and sells a particular home appliance. The variable cost (VC) per unit is P50. The unit selling price (SP) is P120 while fixed cost (FC) is P75,000. Determine the amount by which the FC would have to be reduced to allow the firm to BE at a sales volume of 4,000 units, assuming the VC and the SP remain constant. a. 200,000b. 280,000c. 480,000d. 75,000
- Flyer Company sells a product in a competitive marketplace. Market analysis indicates that its product would probably sell at $48 per unit. Flyer management desires a 12.5% profit margin on sales. Flyer's current full cost for the product is $44 per unit. In order to meet the new target cost, how much will the company have to cut costs per unit, if any? Oa. $1 Ob. $3 Oc. $0 Od. $2M and M, Inc. produces a product that has a variable cost of $2.20 per unit. The company's fixed costs are $42,000. The product is sold for $5 per unit and the company desires to earn a target profit of $11,200. What is the amount of sales that will be necessary to earn the desired profit? (Do not round intermediate calculations.) Multiple Choice $75,000 $128,200 $95,000 $254,000FRT Company sells each unit for $ 60, variable costs for each unit $ 25, Fixed costs $ 200000 Wants to Earn $ 100000 profit, how many units to sell for earning a target profit?
- Choose the correct letter of answer Sela Company, sells Product R for P5 per unit. The fixed costs are P200,000, and the variable costs are 45% of the selling price. The sales in pesos required for Canary to realize a net profit of 12% of sales is: *a. P209,302b. P 55,814c. P465,116 d. none of the aboveDhofar Company has the following information: Total Fixed cost OMR 8000 Selling price per unit OMR 20 Variable cost per unit OMR 12, What will be the correct amount of Profit when 2500 Units have been sold? Select one: a. OMR 20000 b. None of the options c. OMR 12000 d. OMR 10000Campbell Company has fixed costs of $200,000, sales price of $50, and variable cost of $30 per unit. How many units must be sold to earn profit of $50,000? O a. 10,000 O b. 12,500 2,500 O d. 25,000 O c. pen.uwi.edu/mod/quiz/attempt.php?attempt=63242&cmid=99810&page=16# ere to search $ O 81 $30 O # 31 6 E
- Hunter Inc. sells a unique product with the following information available: Sales price Variable costs Fixed Costs Units produced and sold $85 per unit $25 per unit If one more unit is sold, net income will: $10,000 1,250 O increase by $60. O increase by $52. O decrease by $8. O decrease by $33.Concord Corporation plans to introduce a new product and is using the target cost approach. Projected sales revenue is $1740000 ($6.00 per unit) and target costs are $1537000. What is the desired profit per unit? CCoC Cla O $0.70 O $3.00 O $5.30 O None of the aboveQ4: Company XYZ has a choice of two machines to purchase. They both make the same product which sells for 20$. Machine A has FC of 8000$ and per unit cost of 6$. Machine B has FC of 20000$ and per .unit cost of 2$. Under what conditions would you select machine A